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Asia's Next GiantSouth Korea and Late Industrialization$
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Alice H. Amsden

Print publication date: 1992

Print ISBN-13: 9780195076035

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0195076036.001.0001

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The Switch in Industrial Leadership

The Switch in Industrial Leadership

(p.243) Chapter Ten The Switch in Industrial Leadership
Asia's Next Giant

Alice H. Amsden (Contributor Webpage)

Oxford University Press

Korea has diversified from less to more complex diversified industries in a nonlinear fashion. This chapter suggests that cotton spinning and weaving, South Korea's leading sector in terms of production volume, did not serve as the springboard for further (late) industrialization in any organizational sense. Insofar as the diversified business (industrial) group acted as the agent of expansion, it had its origins in the government's more management‐intensive, early import‐substitution projects, not in a labor‐intensive industry like cotton textiles. The first part of the chapter discusses the Korean textile industry in detail. The last part discusses the textile industry versus the cement‐making industry, with a section devoted specifically to the Hyundai Cement Company.

Keywords:   cement industry, diversification, Hyundai Cement Company, import substitution, industrial groups, late industrialization, South Korea, textile industry

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